AUSSIE Q RESOURCES: MEDIA RELEASE
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16 October 2007
HIGH GRADE MOLYBDENUM ASSAYS AT WHITEWASH PROJECT IN CENTRAL QUEENSLAND
Queensland-based minerals exploration company Aussie Q Resources (“Aussie Q, “the Company”)
(ASX: AQR) is pleased to announce the following exploration update from the Company’s drilling program at its 100%-owned Whitewash Copper/Molybdenum Project in Central Queensland.
- A highlight of the results is drill hole
07WW032, which has returned numerous intersections of encouraging high grade molybdenum, assaying up to 7530ppm Molybdenum.
- When ancillary minerals are added, the Company estimates the grade to be 10,907ppm, or 1.09% Mo03 eq
(Molybdenum Oxide equivalent) or 0.93% at 85% recovery. (The Company believes this is a conservative recovery rate. See Note 1 attached).
It should also be noted that the bottom 46m of hole 07WW032 is not included in the
results to date (assays are expected in the near future) but the drill log has indicated significant mineral also exists in this section.
Aussie Q is currently undertaking a drilling program at the project as part of the Company’s aim to
establish a JORC-compliant resource at Whitewash.
The Company can now report that the assay results for drill holes 23 to 35 (excluding hole 33 which is currently being Diamond drilled to 400m) have been received and are presently being prepared
for release.
Assay results for 10 holes have previously been reported to the market, in September. Assay results from the latest drill holes are currently being tabulated and the Company expects to announce these soon.
The Company’s
current drilling program at Whitewash is designed to increase the density of drilling in a section of mineralisation at the project area of approximately 1000 metres by 750 metres, as part of Aussie Q’s aim to delineate a JORC compliant
resource.
The directors believe that, while drilling will continue, the 22 drill holes along with results from 17 holes drilled pre-IPO are sufficient to warrant the Company to now seek a JORC result and then initiate pre-feasibility
planning.
For full details please see the attached Media Release that was released by the Company today.
Download the Media Release here.
Aussie Q Resources Limited
ABN 91 121 964 725
Level 1
27-29 Crombie
Avenue
Bundall, Qld 4217
Phone 07 5574 3830
Fax 07 5574 3568
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Aussie Q Ressources
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DEVELOPMENT STAGE |
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CODE : AQR.AX |
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Aussie Q Res. is a copper and silver development stage company based in Australia. Aussie Q Res. develops copper, silver and molybdenum in Australia, and holds various exploration projects in Australia. Its main asset in development is WHITEWASH in Australia and its main exploration properties are GORDON'S KNOB, KILDARE, KIWI CARPET and RAWBELLE in Australia. Aussie Q Res. is listed in Australia. Its market capitalisation is AU$ 1.2 billions as of today (US$ 851.5 millions, € 752.7 millions). Its stock quote reached its lowest recent point on December 25, 2015 at AU$ 0.03, and its highest recent level on February 21, 2020 at AU$ 4.10. Aussie Q Res. has 347 829 984 shares outstanding. |